ClickAJob News

Transport firm Stagecoach says it is 'encouraged' by its financial performance since last autumn.

The Perth-based business said trading had "remained strong" from its last earnings statement in October, with directors now anticipating "top end" final results.

Boosting expectations at Stagecoach, which owns South West Trains and East Midlands Trains, was growth of 14 per cent in its rail division.

Bus revenue meanwhile was up 7.4 per cent in the 40 weeks ending February 3rd, a rise more than tripled by income at Virgin Rail Group during the same period.

Revenue in Stagecoach's North American operations was up 4.2 per cent in the nine months ending January 31st, the group added.

"We are encouraged with the current trading performance of the group and, while we remain mindful of macroeconomic developments and of continuing cost pressures such as increased fuel prices, the outlook remains positive," a Stagecoach statement said.

But a further statement cautioned: "As we anticipated the recent revenue growth rates in the UK bus and UK rail divisions have been below the rates experienced earlier in the financial year.

"This reflects the effect on UK bus revenue of the timing of the introduction of new concessionary fare schemes and the effect on UK rail revenue of the timing of the implementation of revenue-enhancing initiatives at Stagecoach South Western."